How to achieve a laid-back life with 1 million RMB
Currently, bank wealth management generally has an annual interest rate of around 2% to 3%. Even if you get 3%, with 1 million, you would only earn 30,000 RMB in interest in a year. This translates to about 2,500 RMB per month, which might be manageable in a third-tier city, but it falls short if you want to live a high-quality life.
In contrast, in the cryptocurrency space, Binance recently has a $USDC flexible wealth management project with an annual yield of up to 12%. This amounts to around 700,000 RMB. If you invest 100,000 USDC for a year, the return is 12,000 USDC, which converts to approximately 84,000 RMB, giving you about 7,000 RMB per month, which is more than enough to spend.
More importantly, this is also flexible, and funds can be withdrawn at any time. Compared to bank deposits, banks not only offer low interest rates, but withdrawing money can also be troublesome; for amounts over 50,000 RMB, you need to make an appointment in advance, and they will deduct your interest and other fees.
So if I had 1 million, I would unhesitatingly deposit it and enjoy a laid-back life (let me dream for a moment, don’t wake me up)
